Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
The department store chain announced Wednesday at its annual shareholders meeting in Hoffman Estates, Illinois, that it will offer full-service tire installation for orders from all tire brands on Amazon, including its own DieHard.
News of the partnership sent Sears' stock soaring as much as 22 percent in early trading. The shares were last up 24 percent.
The rollout will begin in the coming weeks for those customers who live within range of 47 Sears Auto Centers in eight metropolitan areas: Atlanta, Chicago, Dallas, Los Angeles, Miami, New York, San Francisco and Washington, D.C. The service will eventually go live at Sears' more than 400 Auto Centers across the U.S., to reach more of Amazon's customers.
The checkout process will look something like this, a Sears spokesman explained to CNBC:
With any appointment, there will be a "standard installation fee" paid to Sears that covers installation, balancing, under hood/under car evaluation, a road safety test and other precautionary steps, the spokesman said.
Sears kicked off its relationship with Amazon last summer when it announced it would begin selling Kenmore-branded appliances on Amazon, some of which are integrated with Amazon's Alexa platform. Shares of the department store chain had surged more than 25 percent on the news.
Then, in December, Sears said it would begin selling merchandise from its DieHard brand on Amazon, including car batteries and now tires.
"Kenmore is now distributed nationally on Amazon with over 250 products and we are exceeding customer service level expectations," Tom Park, president of Kenmore, Craftsman and DieHard brands at Sears Holdings, said in a statement.
The company said it has about 2,100 technicians at its Auto Centers across the country to perform tire installations.
Sears is meanwhile looking for ways to monetize other assets, as its sales are in a steep decline overall and the company has more than $1 billion of debt coming due within the year, according to financial statements.
Sears CEO Eddie Lampert's hedge fund, ESL Investments, has made a proposal to buy Kenmore, Sears' home improvement business, its PartsDirect division and some of the chain's real estate. Lampert has said he's been shopping some of those assets for years, but hasn't been able to find a serious buyer.
In a blog post Wednesday, prior to Sears' shareholders meeting, Lampert said: "We're still not where we need to be, and Sears continues to face significant challenges in a tough retail environment. ... The reality is transformation is an ongoing process and we are not done. I still firmly believe that, together, we can transform this company."
Sears Holdings shares are down nearly 70 percent from a year ago.